Coal India Q4 Results: Net profit rises 26% to ₹8,640.5 crore, revenue down 2%; dividend declared

The state-run miner’s revenue from operations in the fourth quarter of FY24 rose two per cent to ₹37,410.4 crore, compared to ₹38,152.3 crore in the year-ago period. The consolidated income in the January-March period declined to ₹39,654.50 crore from ₹40,371.51 crore a year ago. Coal India accounts for over 80 per cent of the country’s domestic coal production.

Also Read: Coal India’s capex jumps 6.5% in FY24 to record ₹19,840 crore

Coal India Q4 Results -Key Metrics

The maharatna company’s board recommended a final dividend of ₹5 per share for fiscal 2023-24, subject to the approval from shareholders at the ensuing company’s annual general meeting. 

This was in addition to the interim dividend of ₹20.50 per share that Coal India had already paid earlier in the fiscal. The total dividend for FY24 climbs to ₹25.50 per share, which is 255 per cent of face value of a single share.

On the operating front, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 21.5 per cent to ₹11,337.6 crore in the March quarter, compared to ₹9,333.3 crore in the year-ago period. Margin came in at 30.3 per cent compared to 24.5 per cent in the same period last year.

Revenue from operations during the year in reference surged to Rs.1,42,324 crore with an uptick of three per cent compared to Rs.1,38,252 crore in FY23. EBITDA, buoyed by the company positive operating performance, rose to ₹51,793 crore registering 8.5 per cent growth against Rs. 47,723 crore of previous fiscal year.

Also Read: Coal India: 5 Key reasons why analysts expect more than 15% gains for stock

The the world’s largest coal producer’s net profit for the entire fiscal FY24 touched ₹37,369 crore, logging a 17.8 per cent year-on-year (YoY) growth, compared to ₹31,723 crore in the year-ago period. During FY24, the coal mining behemoth contributed ₹60,140 crore to the government exchequer, both central and states where it operates.

Average revenue per ton declined 9.5 per cent, dragged down by shrinking e-auction premiums, according to a presentation that followed the earnings release. The company’s coal supplies increased to 201.6 MT in the fourth quarter of FY24, up eight per cent compared to 186.9 MTs of corresponding quarter in FY23. This gave the heft to the company’s profitability.

CIL produced 241.75 million tonnes (MT) of coal in the fourth quarter of 2023-24, registering a growth of 7.8 per cent over 224.16 MT produced during the same quarter in the previous fiscal. Ahead of the announcement of Q4FY24 results, shares of Coal India settled 0.23 per cent lower at ₹453.25 apiece on the BSE.

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Published: 02 May 2024, 06:47 PM IST